How's everyone doing amongst the Coronavirus shut down? (Philadelphia, Penn: sales, real estate market)

[AJNEOA]

Originally Posted by DXBtoFL

Unfortunately Biden is half senile and already halfway into the grave, or rather, la la land of dementia.

I also don't have much confidence that he will take the strong steps needed to fundamentally shift America's relationship away from China, remove all the critical supply chains (health related especially) out of China and back to the US and other trusted partners. It's absolutely ridiculous America was prevented by law till a few days ago from making any health masks as they had to be imported from China! Or lead a global coalition to force China to seriously end their disgusting wet markets. I've seen those places. They are brutal. China has a long history of talking the talk and then not doing anything about it.

Not saying I like the fat orange man but Biden isn't giving me any confidence. At all.

Exactly! On all accounts.

[kyb01]

Originally Posted by eliza61nyc

I went out this morning to the fresh grocer on Broad Street. Not really packed but some shelves were sparse. The fresh produce was fully stocked but cereal and paper goods were empty

Just was at Rittenhouse Market. Tons of cereal( which I do not eat). Bread? ok. Dairy? Ok. Meat? Mostly ok. Deli?ok. Fresh produce?ok. Everything else mostly ok. Except, of course, paper goods. Cheap TP and some paper towels.

[kyb01]

Originally Posted by cpomp

What I was afraid of. 1-3 weeks of closures, things will recover. 6 weeks or more is a different story...

Well, it may depend on what kind of construction because I saw hard hat folks in Center City this morning. It would absolutely SUCK if Carl Dranoff's new building at Broad and Spruce gets stalled. There's been a lot of progress since we had such a snow free winter.

[skintreesnail]

I'm kind of expecting some projects to stall, just based on that happening during the last recession. Maybe putting a restriction on construction makes sense in some cases, I'm not really sure. Hopefully this doesn't apply to the medical-related construction to continue around penn. Does this also apply to infrastructure projects (septa, streets, amtrak, etc.)?

[cpomp]

Originally Posted by kyb01

Well, it may depend on what kind of construction because I saw hard hat folks in Center City this morning. It would absolutely SUCK if Carl Dranoff's new building at Broad and Spruce gets stalled. There's been a lot of progress since we had such a snow free winter.

Dranoffs project and The Laurel (Rittenhouse) are two extremely long awaited projects, and both are now at street level, so they would rise quickly at this point. Financing seems to be in place and buyer interest was already there before this mess, so I hope they can pick back up...

Dranoffs other project at Broad and Pine (which hasn't begun) is probably stalled now, and same with the Goldenberg Group proposal at the former health center on Broad Street.

I am remaining hopeful because everything is so day by day at this point. And I read a recent article that states the major Northeastern cities are better poised to exit this crisis with less damage.

[Pine to Vine]

Originally Posted by DXBtoFL

Unfortunately Biden is half senile and already halfway into the grave, or rather, la la land of dementia.

I also don't have much confidence that he will take the strong steps needed to fundamentally shift America's relationship away from China, remove all the critical supply chains (health related especially) out of China and back to the US and other trusted partners. It's absolutely ridiculous America was prevented by law till a few days ago from making any health masks as they had to be imported from China! Or lead a global coalition to force China to seriously end their disgusting wet markets. I've seen those places. They are brutal. China has a long history of talking the talk and then not doing anything about it.

Not saying I like the fat orange man but Biden isn't giving me any confidence. At all.

This could become a topic that diverts the thread to a political sideshow. I’ll simply say we see things differently and that’s ok.

[Pine to Vine]

Originally Posted by cpomp

Dranoffs project and The Laurel (Rittenhouse) are two extremely long awaited projects, and both are now at street level, so they would rise quickly at this point. Financing seems to be in place and buyer interest was already there before this mess, so I hope they can pick back up...

Dranoffs other project at Broad and Pine (which hasn't begun) is probably stalled now, and same with the Goldenberg Group proposal at the former health center on Broad Street.

I am remaining hopeful because everything is so day by day at this point. And I read a recent article that states the major Northeastern cities are better poised to exit this crisis with less damage.

The Arthaus, as of today, is continuing construction. Gov Wolf issued a decree this morning closing most business operations (I wasn’t aware many were open), but if I’m reading correctly, permits construction to continue. I do wonder how long this will last once the virus races through a construction site.

Starbucks, the last remaining open business at Broad and Pine, is scheduled to close on March 31 and there is a demo notice in the window. If I was Dranoff, I wouldn’t start that project now. Even if he can secure the workforce needed to handle that project, none of us really know right now where all of this is headed.

[selhars]

It's absolutely ridiculous America was prevented by law till a few days ago from making any health masks as they had to be imported from China!

How was that even allowed to happen. That's crazy.
What country (leaders) make decisions there are not even in the interest of one's own survival.
SMH....

[AJNEOA]

Originally Posted by Pine to Vine

The Arthaus, as of today, is continuing construction. Gov Wolf issued a decree this morning closing most business operations (I wasn’t aware many were open), but if I’m reading correctly, permits construction to continue. I do wonder how long this will last once the virus races through a construction site.

Starbucks, the last remaining open business at Broad and Pine, is scheduled to close on March 31 and there is a demo notice in the window. If I was Dranoff, I wouldn’t start that project now. Even if he can secure the workforce needed to handle that project, none of us really know right now where all of this is headed.

They have until tomorrow morning to shut down or Wolf is going to hit them with violations/fines. I went through the governor's shut-down spreadsheet last night and this type of construction is to halt until the shut-down is lifted. Not sure what it all means in terms of enforcement. Real estate is becoming VERY interesting. Some of PA's archaic processes will likely get modernized as banks, inspectors, title companies, etc. find ways to keep deals moving without in-person meetings.

The government is making some provisions to help people shelter this financial situation, which is good (e.g. delaying student loan payments, deferring/cutting mortgage payment and extending the term, unemployment benefits, etc.). I hope we rebound quickly after the dust settles and cases even out/drop.

I hope you are all doing well!

[AJNEOA]

Originally Posted by selhars

How was that even allowed to happen. That's crazy.
What country (leaders) make decisions there are not even in the interest of one's own survival.
SMH....

One that likes money.